Gulf stocks subdued as Saudi-Houthi hostilities escalate
Major Gulf stock markets were subdued in early trade as fighting intensified on several fronts between Yemen's Iran-aligned Houthis and Saudi-backed government forces. Saudi Arabia's benchmark index slipped 0.2%.
Oct 7 (Reuters) — Major Gulf stock markets were subdued in early trade on Wednesday as fighting intensified on several fronts between Yemen's Iran-aligned Houthis and Saudi-backed government forces. Saudi-backed Yemeni government forces are pushing a major offensive to retake ground lost to weeks of Houthi advances, backed by stepped-up Saudi air strikes. Hostilities between the kingdom and the Houthis have escalated as well. Two attacks on Monday evening targeted airports in Jazan and Najran, injuring three people and causing limited damage, Saudi Arabia's aviation authority said.
6% fall in Al Rajhi Bank. The Saudi-led coalition, which is trying to retake strategic territory seized by the group, said it had intercepted and destroyed a Houthi ballistic missile fired towards Khamis Mushait in the kingdom's south-west. Meanwhile, there was no sign of a thaw between Washington and Tehran. On Tuesday, US President Donald Trump said nobody knew who was running Iran during the US-Israeli war with Iran, which is now in its eighth month.
5% rise in toll operator Salik Company. 1%. com; +918061822788)